Saudi Fund for Development signs SME financing agreements in Egypt

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Updated 02 January 2022
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Saudi Fund for Development signs SME financing agreements in Egypt

The Saudi Fund for Development, known as SFD, signed multiple financing agreements in Egypt with the Industrial Development Bank, Banque du Caire and Enmaa Finance Company.

The total value of the agreements is 300 million Egyptian pounds ($19 million), intended to finance small, medium and micro enterprises in the Upper Egypt region.

Following meetings in Cairo, the financing is expected to contribute to lowering the unemployment rate, increase the rates of development in the region. 

It will also target clean energy, as well as the medical, services and industrial sectors.

The development of joint economic relations between Egypt and other Arab countries aligns with the ministry’s overall strategic aim at consolidating economic relations in various fields, the minister of international cooperation, Rania Al-Mashat, said.

Al-Mashat also praised the strategic Egyptian-Saudi relations, reflected by the program of King Salman bin Abdulaziz, intended to enhance the state’s efforts to develop the Sinai Peninsula.

So far, the total funding provided by the Saudi Arabia Grant Management Committee to Egypt is 1.5 billion Egyptian pounds.

This money has helped to finance 2,550 projects in 27 governorates, generating around 13,000 jobs in the development sectors.


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.